Welcome to the second post about Eloisa Technologies and my project in this competition.
Today I would like to start from the circulation of money, that will become incredibly efficient with the arrival of 5G networks and the introduction of advanced payment systems such as Libra, Facebook's global virtual currency. Well, we developed an engine that generates revenue by making circulation smoother, thus accelerating the movements of money (elementary principles of the physical world, applied to the digital world). We use Open Data to move money, as in the following example.
“How much does a coffee cost in Milan?”. Google would respond with a list of bars in the area, while a digital assistant of the current generation would not respond at all. Eloisa knows the consumer prices published by official sources and is able to communicate them during a conversation, also in vocal form. In this case the answer would be: “Average price of a coffee in Milan is 1 euro, at Bar Duomo it costs 0.90 euros”, but it could also be “Coffee in Milan costs from 0.90 to 1.40 euros, I recommend a coffee from Starbucks”. So, money comes from Bar Duomo or the multinational Starbucks and this is a “transaction”. The total volume of transactions would amount to 50K/month on a city of 400-500K inhabitants, and on that we hold a percentage, while the rest serves to fund the Citizen Basic Income with no tax increase.
Please follow me in the next post. In the meantime, you can make a conversation with our Dubai Smart City Assistant.
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